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Lelechka [254]
3 years ago
6

Materials purchased on account during the month totaled $190,000. Materials requisitioned and placed in production totaled $165,

000. The journal entry to record the material purchase on account is
a. Materials 165,000 Accounts Payable 165,000
b. Materials 190,000 Accounts Payable 190,000
c. Materials 190,000 Cash 190,000
d. Accounts Payable 190,000 Materials 190,000
Business
1 answer:
Tanzania [10]3 years ago
8 0

Answer:

b. Materials 190,000 Accounts Payable 190,000

Explanation:

Materials may either be purchased on credit or by cash, When materials are purchased on credit, such materials are said to have been purchased on accounts.

The entries for cash purchases are ;

Debit Supplies/Inventory account

Credit Cash account

However, when the purchase is done on account, the credit entry goes to the accounts payable and not cash.

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Chloe and Tamara start a vintage fashion boutique. While both invest equally in the store and are entitled to equal profits, it
WINSTONCH [101]

Answer:

Silent partner.

Explanation:

<u>Chloe is a </u><u>silent partner</u><u> in this vintage fashion boutique.</u> A silent partner or sleeping partner is that <u>who invest</u> in the business and have still<u> shares in the profits and losses </u>of the business, but who is <u>not involved in day-to-day business transactions</u> and in its management and his/her<u> personal property is not at risk</u> in case the business suffers losses as here Chloe and Tamara invested equally but Chloe is not taking part in the management of the business but still shares the profit and loss occurred but her personal property is not at risk<u> in case of firm's insolvency.</u>

3 0
3 years ago
In Waterway Company, Treasury Stock increased $20400 from a cash purchase, and Retained Earnings increased $80200 as a result of
Verizon [17]

Answer:

$59,900

<u />

Explanation:

<u>Cash flow from Financing activities</u>

Particulars                                                Amount

Cash paid for treasury stock                  $20,400

Cash dividends                                        <u>$39,500</u>

Net cash used by financing activities  <u>$59,900</u>

4 0
3 years ago
Having never been to singapore, you should still be able to tell me the % of work force involved in primary and secondary activi
nikklg [1K]
<span>The percentage of work force involved in primary and secondary activities is probably equal to or less than 30%. In an economy like Singapore, development has been really fast due to which service sector particularly tourism accounts a major share. Hence the workforce involved in primary and secondary activities is declining and the share of workforce in these activities is approx 30% of the total workforce.</span>
3 0
3 years ago
An acquisition premium is the amount by which the price offered for an existing business exceeds the Select one: a. amount paid
MAVERICK [17]

Answer:

d. pre-acquisition market value of the target company.

Explanation:

An acquisition premium is the amount by which the price offered for an existing business exceeds the pre-acquisition market value of the target company.

An acquisition premium gives the difference between the actual amount of money paid in acquiring a target firm and the estimated real value of obtaining the firm before the acquisition.

Acquisition premium are usually recorded on the balance sheet as "goodwill."

8 0
3 years ago
The most important and volatile component of the current account in the U.S. balance of payments is:
astraxan [27]

Answer: net exports

Explanation:

Balance of payment simply shows the estimation of the inflows and outflow of a nation's money for a certain year. It should be noted that current account of the balance of payment consists of three main components which are the trade in Goods, the trade in services, and the transfer payments.

The trade in goods is segregated into imports and export. This therefore makes the net exports volatile and vital because it has higher share in a current account.

3 0
3 years ago
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